@article{MTMT:34609881,
	title = {Limit Theorems for Default Contagion and Systemic Risk},
	url = {https://m2.mtmt.hu/api/publication/34609881},
	author = {Amini, Hamed and Cao, Zhongyuan and Sulemb, Agnes},
	doi = {10.1287/moor.2021.0283},
	journal-iso = {MATH OPER RES},
	journal = {MATHEMATICS OF OPERATIONS RESEARCH},
	unique-id = {34609881},
	issn = {0364-765X},
	abstract = {We consider a general tractable model for default contagion and systemic risk in a heterogeneous financial network subjected to an exogenous macroeconomic shock. We show that under certain regularity assumptions, the default cascade model can be transformed into a death process problem represented by a balls-and-bins model. We state various limit theorems regarding the final size of default cascades. Under appropriate assumptions on the degree and threshold distributions, we prove that the final sizes of default cascades have asymptotically Gaussian fluctuations. We next state limit theorems for different system-wide wealth aggregation functions, which enable us to provide systemic risk measures in relation to the structure and heterogeneity of the financial network. Lastly, we demonstrate how these results can be utilized by a social planner to optimally target interventions during a financial crisis given a budget constraint and under partial information of the financial network.},
	keywords = {Random graphs; Financial networks; systemic risk; default contagion},
	year = {2023},
	eissn = {1526-5471}
}

@article{MTMT:33041684,
	title = {High-growth firms’ contribution to aggregate productivity growth},
	url = {https://m2.mtmt.hu/api/publication/33041684},
	author = {Bisztray, Márta and de Nicola, F and Muraközy, Balázs},
	doi = {10.1007/s11187-022-00614-9},
	journal-iso = {SMALL BUS ECON},
	journal = {SMALL BUSINESS ECONOMICS},
	volume = {60},
	unique-id = {33041684},
	issn = {0921-898X},
	year = {2023},
	eissn = {1573-0913},
	pages = {771-811}
}

@article{MTMT:34280236,
	title = {International trade and technological competition in markets with dynamic increasing returns},
	url = {https://m2.mtmt.hu/api/publication/34280236},
	author = {Fontanelli, Luca and Guerini, Mattia and Napoletano, Mauro},
	doi = {10.1016/j.jedc.2023.104619},
	journal-iso = {J ECON DYN CONTROL},
	journal = {JOURNAL OF ECONOMIC DYNAMICS & CONTROL},
	volume = {149},
	unique-id = {34280236},
	issn = {0165-1889},
	abstract = {We build a simple international trade model to study how the interaction between imperfect market selection and technological learning jointly shapes trade patterns as well as firm and industry dynamics. The model features two countries populated by firms heterogeneous in their productivity and size. Market selection is driven by a finite pairwise Polya urn process, while a geometric random walk characterizes the idiosyncratic cumulative firm learning process. We show that the model is able to jointly reproduce a wide ensemble of stylized facts concerning intra-industry trade, industry and firm dynamics as well as realistic dynamics of export and productivity leadership at the country level. A series of sensitivity exercises on the degree of trade openness and the tightness of the market selection process allow us to draw interesting policy insights on concentration, volatility and the dynamics of international leadership in both export shares and aggregate productivity. (c) 2023 Elsevier B.V. All rights reserved.},
	keywords = {international trade; Industrial dynamics; Firm dynamics; market selection},
	year = {2023},
	eissn = {1879-1743},
	orcid-numbers = {Napoletano, Mauro/0000-0002-8128-6674}
}

@article{MTMT:34280234,
	title = {Dependent tasks offloading in mobile edge computing: A multi-objective evolutionary optimization strategy},
	url = {https://m2.mtmt.hu/api/publication/34280234},
	author = {Gong, Yanqi and Bian, Kun and Hao, Fei and Sun, Yifei and Wu, Yulei},
	doi = {10.1016/j.future.2023.06.015},
	journal-iso = {FUTUR GENER COMP SYST},
	journal = {FUTURE GENERATION COMPUTER SYSTEMS},
	volume = {148},
	unique-id = {34280234},
	issn = {0167-739X},
	abstract = {Due to the proliferation of applications such as virtual reality and online games with high real-time requirements, Mobile Edge Computing (MEC) has become a promising computing paradigm that can improve user experience and reduce the task offloading latency. The cloud-edge-end collaborative offloading further addresses the problem of insufficient computing resources of edge servers owing to large-scale computing-intensive applications in MEC. However, existing offloading solutions often ignore the important factor of economic cost, making it hard for these solutions to achieve a sustainable cloud-edge-end collaborative computation. To this end, this paper considers a multi-user multi-server, cloud-edge-end collaborative offloading scenario in the presence of dependent offloading tasks for the sake of maximizing rewards and minimizing latency. Each user issues a computing-intensive application consisting of multiple dependent tasks, which are offloaded collaboratively by various computational resources. With the goal of maximizing the yield of offloading for users and server providers, a multi-objective optimization problem of joint task offloading and execution rewards is studied. Technically, a multivariate multi-objective optimization problem with three objectives is modeled. An efficient multi-objective evolutionary optimization algorithm based on MOEA/D is then developed to solve the latency minimization and reward maximization problems. Extensive simulation results verify the effectiveness of the algorithm and illustrate that the proposed algorithm can significantly improve user offloading benefits. In addition, a scalability evaluations of our proposed algorithm is conducted for demonstrating its feasibility in large-scale task offloading scenarios.& COPY; 2023 Elsevier B.V. All rights reserved.},
	keywords = {Multi-objective optimization; EVOLUTIONARY COMPUTATION; mobile edge computing; Dependent task offloading; Cloud-edge-end collaborative computing},
	year = {2023},
	eissn = {1872-7115},
	pages = {314-325}
}

@inproceedings{MTMT:33225523,
	title = {The Power of Two Choices in Graphical Allocation},
	url = {https://m2.mtmt.hu/api/publication/33225523},
	author = {Bansal, Nikhil and Feldheim, Ohad N.},
	booktitle = {Proceedings of the 54th Annual ACM SIGACT Symposium on Theory of Computing},
	doi = {10.1145/3519935.3519995},
	unique-id = {33225523},
	abstract = {The graphical balls-into-bins process is a generalization of the classical 2-choice balls-into-bins process, where the bins correspond to vertices of an arbitrary underlying graph G. At each time step an edge of G is chosen uniformly at random, and a ball must be assigned to either of the two endpoints of this edge. The standard 2-choice process corresponds to the case of G = K-n. For any k(n)-edge-connected, d(n)-regular graph on.. vertices, and any number of balls, we give an allocation strategy that, with high probability, ensures a gap of O( (d/k) log(4)n log log n), between the load of any two bins. In particular, this implies polylogarithmic bounds for natural graphs such as cycles and tori, for which the classical greedy allocation strategy is conjectured to have a polynomial gap between the bin loads. For every graph.., we also show an Omega( (d/k) + log n) lower bound on the gap achievable by any allocation strategy. This implies that our strategy achieves the optimal gap, up to polylogarithmic factors, for every graph... Our allocation algorithm is simple to implement and requires only O( log(n)) time per allocation. It can be viewed as a more global version of the greedy strategy that compares average load on certain fixed sets of vertices, rather than on individual vertices. A key idea is to relate the problem of designing a good allocation strategy to that of finding suitable multi-commodity flows. To this end, we consider Racke's cut-based decomposition tree and define certain orthogonal flows on it.},
	keywords = {Load-Balancing; Balls-into-bins processes; graphical two-choice; Racke decomposition},
	year = {2022},
	pages = {52-63}
}

@article{MTMT:33005903,
	title = {International trade distributions and their relation with random fragmentation processes},
	url = {https://m2.mtmt.hu/api/publication/33005903},
	author = {Bustos-Guajardo, R.},
	doi = {10.1142/S0129183122500772},
	journal-iso = {INT J MOD PHYS C},
	journal = {INTERNATIONAL JOURNAL OF MODERN PHYSICS C},
	volume = {33},
	unique-id = {33005903},
	issn = {0129-1831},
	abstract = {A study of the distribution of the value of traded goods under the Harmonized System is presented. The ramifications of this classification system are found to exhibit an approximate power law decay, indicating complexity and self-organization in the nomenclature of traded merchandises. For almost all countries with available data, log-values of annually imported and exported goods are well described by three-parameter Weibull distributions. This distribution commonly appears in particles size distributions, suggesting a connection between random fragmentation processes and the mechanisms behind the international trade of merchandises. Analysis of the resulting values for the fitting parameters from 1995 to 2018 shows a nearly constant linear relationship between the parameters of the Weibull distributions, so that, for each country, the distribution of log-values can be approximately characterized by a single shape parameter beta. The empirical findings of this paper suggest that specialization on trading a constant set of goods prevents the values of all traded merchandises from growing/decreasing simultaneously.},
	keywords = {FRAGMENTATION; international trade; Econophysics; Weibull},
	year = {2022},
	eissn = {1793-6586}
}

@article{MTMT:33005904,
	title = {Risk management in border inspection},
	url = {https://m2.mtmt.hu/api/publication/33005904},
	author = {Hillberry, Russell and Karabay, Bilgehan and Tan, Shawn W.},
	doi = {10.1016/j.jdeveco.2021.102748},
	journal-iso = {J DEV ECON},
	journal = {JOURNAL OF DEVELOPMENT ECONOMICS},
	volume = {154},
	unique-id = {33005904},
	issn = {0304-3878},
	abstract = {As part of their commitments under the WTO's Agreement on Trade Facilitation, many developing countries will adopt risk management, a strategy for selecting import shipments for inspection. In this paper we formalize key enforcement issues related to risk management. We argue that the complexities of international trade oversight mean that inspecting agencies lack certainty about the conditional probability that a given shipment will comply with import regulations. Ambiguity of this sort is likely to be important in developing countries that lack the sophisticated information technology (IT) used in advanced risk management. We show empirically that infrequent shipments have conditionally higher inspection rates, a finding that is consistent with our ambiguity hypothesis. We formalize a role for ambiguity in a theoretical model of border inspection. We calibrate the model and shock the ambiguity parameters to illustrate the consequences of an IT-driven improvement in risk management capabilities for search and compliance.},
	keywords = {risk management; ambiguity; Border inspection; Trade facilitation; Choquet expected utility},
	year = {2022},
	eissn = {1872-6089}
}

@article{MTMT:32478336,
	title = {The extensive margin of exporting products: a firm-level analysis},
	url = {https://m2.mtmt.hu/api/publication/32478336},
	author = {Arkolakis, Costas and Ganapati, Sharat and Muendler, Marc-Andreas},
	doi = {10.1257/mac.20150370},
	journal-iso = {AM ECON J-MACROECON},
	journal = {AMERICAN ECONOMIC JOURNAL-MACROECONOMICS},
	volume = {13},
	unique-id = {32478336},
	issn = {1945-7707},
	year = {2021},
	eissn = {1945-7715},
	pages = {182-245}
}

@article{MTMT:32321267,
	title = {Trade Effects of Customs Reform: Evidence from Albania},
	url = {https://m2.mtmt.hu/api/publication/32321267},
	author = {Fernandes, Ana Margarida and Hillberry, Russell and Alcantara, Alejandra Mendoza},
	doi = {10.1093/wber/lhz017},
	journal-iso = {WORLD BANK ECON REV},
	journal = {WORLD BANK ECONOMIC REVIEW},
	volume = {35},
	unique-id = {32321267},
	issn = {0258-6770},
	abstract = {Despite enormous academic interest in international trade costs and keen policy interest in efforts to reduce them, little is known about the effects of trade facilitation measures. This study evaluates a significant Albanian reform that sharply reduced physical inspections of import shipments. An estimation strategy that isolates quasi-random variation in the allocation of shipments to physical inspections is used to show that reduced inspections significantly increase imports. Import flows that are observed least frequently see the largest trade responses to reduced inspections. The effect of inspections on imports is virtually independent of changes in clearance time and clearance time uncertainty. Tariff and other tax revenues collected at the border rise in direct proportion to growth in declared import value. There is no compelling evidence that reduced inspections increase evasive behavior, perhaps because most of Albania's imports are tariff-free.},
	keywords = {risk management; Trade facilitation; Customs; trade costs; border costs},
	year = {2021},
	eissn = {1564-698X},
	pages = {34-57}
}

@article{MTMT:32321268,
	title = {Goods-market frictions and international trade},
	url = {https://m2.mtmt.hu/api/publication/32321268},
	author = {Krolikowski, Pawel M. and McCallum, Andrew H.},
	doi = {10.1016/j.jinteco.2020.103411},
	journal-iso = {J INT ECON},
	journal = {JOURNAL OF INTERNATIONAL ECONOMICS},
	volume = {129},
	unique-id = {32321268},
	issn = {0022-1996},
	abstract = {We add goods-market frictions to a general equilibrium dynamic model with heterogeneous exporting producers and identical importing retailers. Our tractable framework leads to endog-enously unmatched product varieties that reduce welfare, attenuate welfare responses, increase the responsiveness of trade to iceberg costs, and operate mainly through the extensive margin. Quantitative results based on U.S. and Chinese data suggest that reducing international search costs to their domestic levels raises U.S. and Chinese welfare by 5.6% and 4%, respectively. A model with search frictions attenuates ex-ante welfare responses by 85% and changes the trade elasticity from & minus;3.2 to & minus;5.5 relative to a model without search frictions. The trade elas-ticity with respect to search costs is & minus;0.7 and search frictions make the intensive and extensive margins of trade with respect to variable costs about equally important. Our framework pro-vides a baseline for analyzing the aggregate implications of search frictions in models of trade.(c) 2020 Published by Elsevier B.V.},
	keywords = {Constrained optimization; SEARCH; WELFARE; Trade elasticity},
	year = {2021},
	eissn = {1873-0353}
}

@article{MTMT:31767259,
	title = {Decomposing episodes of large growth in international trade},
	url = {https://m2.mtmt.hu/api/publication/31767259},
	author = {Malloy, Brandon},
	doi = {10.1111/roie.12508},
	journal-iso = {REV INT ECON},
	journal = {REVIEW OF INTERNATIONAL ECONOMICS},
	volume = {29},
	unique-id = {31767259},
	issn = {0965-7576},
	abstract = {I use bilateral trade data from a variety of countries to decompose the patterns of trade growth across various goods classifications during episodes of rapid growth in bilateral trade. I find that bilateral trade growth during these episodes isfragmented-less than 5% of goods classifications account for over 65% of overall bilateral trade growth. I quantitatively assess whether "Melitz-style" trade models, with heterogeneous productivity firms, CES demand and fixed and variable costs of exporting, can match the observed fragmentation of bilateral trade growth. I find the standard model generates less than 40% of the observed fragmentation in the data, as measured by the share of total trade growth accounted for by various quantiles of goods classifications. However, by incorporating heterogeneous tariff and productivity changes imputed from US production and export data, I find that the model generates approximately 90% of the magnitude of fragmentation of trade growth across goods as in the data.},
	year = {2021},
	eissn = {1467-9396},
	pages = {228-267}
}

@article{MTMT:32321266,
	title = {Global ownership patterns},
	url = {https://m2.mtmt.hu/api/publication/32321266},
	author = {Mariscal, Asier},
	doi = {10.1016/j.jedc.2021.104213},
	journal-iso = {J ECON DYN CONTROL},
	journal = {JOURNAL OF ECONOMIC DYNAMICS & CONTROL},
	volume = {131},
	unique-id = {32321266},
	issn = {0165-1889},
	abstract = {To analyze multinationals' market entry, I assemble a new dataset of cross-border mergers and acquisitions (M&A) for 1985-2019, with sales for the parent and target firms. Seven main facts emerge: (1) the number of acquisitions per parent has a Pareto distribution; (2) the number of different industries and countries entered per parent has a similarly shaped Pareto distribution; (3) parents entering unpopular industries or countries are large, as measured by global sales; (4) at the parent level, the number of industries and the number of countries entered is highly correlated; (5) the percent of zero parent-level M&A flows across destination industry-countries is 99%, and obeys a gravity relation; (6) single-industry and single-country parents are very prevalent (around 50%), but their sales share is low (around 10%); (7) there is positive assortative matching between parent and target sales. A balls-and-bins model (ala Armenter and Koren, 2014) quantitatively matches many of the facts due to the sparsity of M&A data. Three unmatched facts provide information for future theories: parent entry by market popularity, single-market multinational parents' prevalence and sales share, and assortative matching between parent and target sales. (C) 2021 Published by Elsevier B.V.},
	keywords = {quantitative analysis; Mergers and acquisitions; Pareto distribution; Probabilistic model; multinational corporations; firm-level data; Multinational production},
	year = {2021},
	eissn = {1879-1743}
}

@article{MTMT:31504643,
	title = {Generalists and specialists in the credit market},
	url = {https://m2.mtmt.hu/api/publication/31504643},
	author = {Fricke, Daniel and Roukny, Tank},
	doi = {10.1016/j.jbankfin.2018.04.014},
	journal-iso = {J BANK FINANC},
	journal = {JOURNAL OF BANKING & FINANCE},
	volume = {112},
	unique-id = {31504643},
	issn = {0378-4266},
	abstract = {In this paper, we propose a method to analyze the structure of the credit market. Using historical data from Japan, we explore banks' lending patterns to the real economy. We find that generalist banks (with diversified lending) and specialist banks (with focused lending) coexist, and tend to stick to their strategies over time. Similarly, we also document the coexistence of generalist and specialist industries (based on their borrowing patterns). The observed interaction patterns in the credit market indicate a strong overlap in banks' loan portfolios, mainly due to specialist banks focusing their investments on the very same generalist industries. A stylized model matches these patterns and allows us to identify economically meaningful sets of generalist banks/industries. Lastly, we find that generalist banks are not necessarily less vulnerable to shocks compared to specialists. In fact, high leverage levels can undo the benefits of diversification. (C) 2018 Elsevier B.V. All rights reserved.},
	keywords = {DIVERSIFICATION; Portfolio theory; systemic risk; Bank lending; Fire sales},
	year = {2020},
	eissn = {1872-6372}
}

@article{MTMT:31504642,
	title = {Core-periphery structure in sectoral international trade networks: A new approach to an old theory},
	url = {https://m2.mtmt.hu/api/publication/31504642},
	author = {Kostoska, Olivera and Mitikj, Sonja and Jovanovski, Petar and Kocarev, Ljupco},
	doi = {10.1371/journal.pone.0229547},
	journal-iso = {PLOS ONE},
	journal = {PLOS ONE},
	volume = {15},
	unique-id = {31504642},
	issn = {1932-6203},
	abstract = {The research on core-periphery structure of global trade from a complex-network perspective has shown that the world system is hierarchically organized into blocks and that countries play different roles in the world economy. Yet, little attention has been paid to investigating whether the sectoral international trade networks conform to a core-periphery structure, hence what is the role of different levels of processing in creating and maintaining structural inequality. This issue is of particular importance given the contemporary focus upon global production networks and reshaping of the international division of labor. With this in mind, we propose a model (LARDEG) from network science to reexamine old theories in economics, such as core-periphery structures in sectoral international trade networks and test whether the global value chains have changed structural positions in terms of the level of processing. The economic background of our model permitting a more accurate sorting of countries into structural positions and the general stability of results have provided for a more solid measurements than has hereto been possible. Our algorithm naturally produces networks with hierarchically nested block structure obtained from an iterative decomposition of the network periphery such that each block represents a vertex set of a maximal size subgraph existing at different levels. The results not only lend support to the previous hierarchical model of the world-system (core, semi-periphery, and periphery) but also find that, depending on particular industry, the number of analytically identifiable blocks could be more than three. We show that 'size effect' is the one that prevails for core block membership at the first hierarchical level, while the GNI per capita is a much poorer proxy for the world-system status. Moreover, the patterns of blocks we label as the second- or third-level 'core' are strongly dependent on distance and geographical proximity. Overall, the various configurations of asymmetrical trade patterns between our blocks and the remarkably stable position of core countries at the top of structure clearly indicate that the rise of global production networks has actually restored a huge and unequal international division of labor splitting the world into 'headquarter' and 'factory' economies.},
	year = {2020},
	eissn = {1932-6203}
}

@article{MTMT:31074681,
	title = {Firm size, quality bias and import demand},
	url = {https://m2.mtmt.hu/api/publication/31074681},
	author = {Blaum, Joaquin and Lelarge, Claire and Peters, Michael},
	doi = {10.1016/j.jinteco.2019.04.004},
	journal-iso = {J INT ECON},
	journal = {JOURNAL OF INTERNATIONAL ECONOMICS},
	volume = {120},
	unique-id = {31074681},
	issn = {0022-1996},
	abstract = {Commonly used firm-based models of importing imply that firm productivity should have no effect on the allocation of expenditure across a common set of sourcing countries. Using French data, we show that this homotheticity property is soundly rejected: larger firms concentrate their import spending on their top varieties, holding the sourcing strategy fixed. To rationalize this finding, we propose a novel model of importing that features (i) a complementarity between firm productivity and input quality and (ii) heterogeneity across countries in their ability to produce high quality inputs. This model implies that large firms bias their spending towards countries with a comparative advantage in producing high quality inputs and hence generates a non-homothetic import demand system. We provide empirical support for this and other predictions of this theory. (C) 2019 Elsevier B.V. All rights reserved.},
	keywords = {Firm size; firm heterogeneity; Trade in intermediate inputs; Non-homothetic import demand; Quality-productivity complementarity},
	year = {2019},
	eissn = {1873-0353},
	pages = {59-83}
}

@article{MTMT:31074684,
	title = {Firm heterogeneity and exports in the Netherlands. Identifying export potential beyond firm productivity},
	url = {https://m2.mtmt.hu/api/publication/31074684},
	author = {Brakman, Steven and Garretsen, Harry and van Maarseveen, Raoul and Zwaneveld, Peter},
	doi = {10.1080/09638199.2019.1631876},
	journal-iso = {J INT TRADE ECON DEV},
	journal = {JOURNAL OF INTERNATIONAL TRADE & ECONOMIC DEVELOPMENT},
	volume = {29},
	unique-id = {31074684},
	issn = {0963-8199},
	abstract = {According to the Melitz [2003. 'The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity.' Econometrica 71: 1695-1725] model, potential exporters have to be sufficiently productive to overcome the entry costs of foreign markets. Once firms pass this productivity threshold, they all export. However, empirical evidence indicates that a substantial share of highly productive top-performing firms does not export. In this paper, we focus specifically on this group of high-performing non-exporters and identify the factors that prevent them from successfully exporting. We employ a large Dutch administrative dataset containing both small and large firms in services and manufacturing for the period 2010-2016. Our main findings are two-fold. First, controlling for high productivity identifies other factors that need to be fulfilled for exporting firms. Firm size, import status, and foreign ownership are important determinants of a firm's future export activity. Second, firm location is crucial. A location in more peripheral areas increases the probability that high-productive firms do not export, whereas a location close to the border increases export probabilities.},
	keywords = {LOCATION; PRODUCTIVITY; firm heterogeneity; export behavior},
	year = {2019},
	eissn = {1469-9559},
	pages = {36-68}
}

@article{MTMT:31074682,
	title = {The extensive margin of trade and monetary policy},
	url = {https://m2.mtmt.hu/api/publication/31074682},
	author = {Imura, Yuko and Shukayev, Malik},
	doi = {10.1016/j.jedc.2019.01.002},
	journal-iso = {J ECON DYN CONTROL},
	journal = {JOURNAL OF ECONOMIC DYNAMICS & CONTROL},
	volume = {100},
	unique-id = {31074682},
	issn = {0165-1889},
	abstract = {This paper studies the effects of monetary policy shocks on firms' participation in exporting. The VAR analysis shows that the extensive margin of exports declines in response to domestic expansionary monetary shocks. We develop a two-country dynamic stochastic general equilibrium model in which heterogeneous firms make forward-looking decisions on whether to participate in the export market and prices are staggered across firms and time. We show that while lower interest rates and a currency depreciation associated with an expansionary monetary policy help to increase the value of exporting, the inflationary effects of the policy stimulus weaken the competitiveness of some firms, resulting in a contraction in firms' export participation. In contrast, positive productivity shocks lead to a currency depreciation and an expansion in export participation at the same time. We show that, overall, the extensive margin is more sensitive to firms' price competitiveness with other firms in the export market than to exchange rate movements or interest rates. Crown Copyright (C) 2019 Published by Elsevier B.V. All rights reserved.},
	keywords = {monetary policy; exchange rate; firm heterogeneity; Exporter dynamics},
	year = {2019},
	eissn = {1879-1743},
	pages = {417-441}
}

@article{MTMT:27476727,
	title = {Global firms},
	url = {https://m2.mtmt.hu/api/publication/27476727},
	author = {Bernard, A B and Jensen, J B and Redding, S J and Schott, P K},
	doi = {10.1257/jel.20160792},
	journal-iso = {J ECON LIT},
	journal = {JOURNAL OF ECONOMIC LITERATURE},
	volume = {56},
	unique-id = {27476727},
	issn = {0022-0515},
	year = {2018},
	eissn = {2328-8175},
	pages = {565-619}
}

@article{MTMT:27520208,
	title = {Two-Sided Heterogeneity and Trade},
	url = {https://m2.mtmt.hu/api/publication/27520208},
	author = {Bernard, Andrew B and Moxnes, Andreas and Ulltveit-Moe, Karen Helene},
	doi = {10.1162/rest_a_00721},
	journal-iso = {REV ECON STAT},
	journal = {REVIEW OF ECONOMICS AND STATISTICS},
	volume = {100},
	unique-id = {27520208},
	issn = {0034-6535},
	year = {2018},
	eissn = {1530-9142},
	pages = {424-439}
}

@article{MTMT:30567974,
	title = {Exporters' product vectors across markets},
	url = {https://m2.mtmt.hu/api/publication/30567974},
	author = {Fontagne, Lionel and Secchi, Angelo and Tomasi, Chiara},
	doi = {10.1016/j.euroecorev.2018.08.002},
	journal-iso = {EUR ECON REV},
	journal = {EUROPEAN ECONOMIC REVIEW},
	volume = {110},
	unique-id = {30567974},
	issn = {0014-2921},
	abstract = {The paper provides an original empirical approach to investigate multi-product firms' export patterns across destinations by considering the whole mix of products exported by a firm, formally defined as a product-vector. The proposed methodology allows to take into account a firm's choice of both exporting and non-exporting a product to a destination and to consider different forms of product complementarity that can generate product combinations. The empirical analysis uses a panel of transactions level data for the universe of Italian and French firms and complements the existing evidence along a few dimensions. First, we show that there is a high level of sparsity: selection of products at destination is indeed very severe. Second, we document that firms export several different combinations of product vectors across markets. Relatedly a high level of diversity is detected also when considering the intensive margin, pointing to a substantial departure from a stable global product hierarchy. Finally, we provide evidence that at the same time there exists a stable component in firms' product vectors across destinations composed by products which are not necessarily the most important in terms of sales, suggesting rich form of complementarities across goods. Products belonging to this stable component are less likely to be discarded as a consequence of an exogenous shock such as the dismantling of the MFA quotas after accession of China to the WTO. (C) 2018 Elsevier B.V. All rights reserved.},
	keywords = {STABILITY; Sparsity; Multi-product multi-country firms; Product vectors; Fickleness},
	year = {2018},
	eissn = {1873-572X},
	pages = {150-180}
}

@article{MTMT:26711210,
	title = {Wealth Heterogeneity and the Income Elasticity of Migration},
	url = {https://m2.mtmt.hu/api/publication/26711210},
	author = {Bazzi, Samuel},
	doi = {10.1257/app.20150548},
	journal-iso = {AM ECON J APPL ECON},
	journal = {AMERICAN ECONOMIC JOURNAL: APPLIED ECONOMICS},
	volume = {9},
	unique-id = {26711210},
	issn = {1945-7782},
	year = {2017},
	eissn = {1945-7790},
	pages = {219-255}
}

@article{MTMT:26533500,
	title = {Import sourcing of Chinese cities: Order versus randomness},
	url = {https://m2.mtmt.hu/api/publication/26533500},
	author = {Head, Keith and Jing, Ran and Ries, John},
	doi = {10.1016/j.jinteco.2017.01.003},
	journal-iso = {J INT ECON},
	journal = {JOURNAL OF INTERNATIONAL ECONOMICS},
	volume = {105},
	unique-id = {26533500},
	issn = {0022-1996},
	year = {2017},
	eissn = {1873-0353},
	pages = {119-129}
}

@article{MTMT:27269316,
	title = {Multi-product firms and product quality},
	url = {https://m2.mtmt.hu/api/publication/27269316},
	author = {Manova, Kalina and Yu, Zhihong},
	doi = {10.1016/j.jinteco.2017.08.006},
	journal-iso = {J INT ECON},
	journal = {JOURNAL OF INTERNATIONAL ECONOMICS},
	volume = {109},
	unique-id = {27269316},
	issn = {0022-1996},
	year = {2017},
	eissn = {1873-0353},
	pages = {116-137}
}

@article{MTMT:3061055,
	title = {A balls-and-bins model of trade. reply},
	url = {https://m2.mtmt.hu/api/publication/3061055},
	author = {Armenter, R and Koren, Miklós},
	doi = {10.1257/aer.20151233},
	journal-iso = {AM ECON REV},
	journal = {AMERICAN ECONOMIC REVIEW},
	volume = {106},
	unique-id = {3061055},
	issn = {0002-8282},
	year = {2016},
	eissn = {1944-7981},
	pages = {852-854}
}

@article{MTMT:25563237,
	title = {A Balls-and-Bins Model of Trade: Comment},
	url = {https://m2.mtmt.hu/api/publication/25563237},
	author = {Blum, BS and Claro, S and Horstmann, IJ},
	doi = {10.1257/aer.20140372},
	journal-iso = {AM ECON REV},
	journal = {AMERICAN ECONOMIC REVIEW},
	volume = {106},
	unique-id = {25563237},
	issn = {0002-8282},
	year = {2016},
	eissn = {1944-7981},
	pages = {843-851}
}

@article{MTMT:26204698,
	title = {Trade in Parts and Components across Europe},
	url = {https://m2.mtmt.hu/api/publication/26204698},
	author = {Frensch, Richard and Hanousek, Jan and Kocenda, Evzen},
	journal-iso = {FINANC UVER},
	journal = {FINANCE A UVER: CZECH JOURNAL OF ECONOMICS AND FINANCE},
	volume = {66},
	unique-id = {26204698},
	issn = {0015-1920},
	year = {2016},
	eissn = {0015-1920},
	pages = {236-262}
}

@article{MTMT:26204697,
	title = {The Geometry of the Distance Coefficient in Gravity Equations in International Trade},
	url = {https://m2.mtmt.hu/api/publication/26204697},
	author = {Rauch, Ferdinand},
	doi = {10.1111/roie.12252},
	journal-iso = {REV INT ECON},
	journal = {REVIEW OF INTERNATIONAL ECONOMICS},
	volume = {24},
	unique-id = {26204697},
	issn = {0965-7576},
	year = {2016},
	eissn = {1467-9396},
	pages = {1167-1177}
}

@article{MTMT:26016964,
	title = {The missing trade of China: balls-and-bins model},
	url = {https://m2.mtmt.hu/api/publication/26016964},
	author = {Shi, Huimin and Jiang, Zheng},
	doi = {10.1007/s00181-015-0987-y},
	journal-iso = {EMPIR ECON},
	journal = {EMPIRICAL ECONOMICS},
	volume = {50},
	unique-id = {26016964},
	issn = {0377-7332},
	year = {2016},
	eissn = {1435-8921},
	pages = {1511-1526}
}

@book{MTMT:2914881,
	title = {Micro-founded measurement of regional competitiveness in Europe},
	url = {https://m2.mtmt.hu/api/publication/2914881},
	isbn = {9786155447877},
	author = {Békés, Gábor and Ottaviano, GIP},
	publisher = {Közgazdaság- és Regionális Tudományi Kutatóközpont Közgazdaság-tudományi Intézet},
	unique-id = {2914881},
	year = {2015}
}

@article{MTMT:24959338,
	title = {Financial development and the choice of trade partners},
	url = {https://m2.mtmt.hu/api/publication/24959338},
	author = {Chan, JML and Manova, K},
	doi = {10.1016/j.jdeveco.2015.04.002},
	journal-iso = {J DEV ECON},
	journal = {JOURNAL OF DEVELOPMENT ECONOMICS},
	volume = {116},
	unique-id = {24959338},
	issn = {0304-3878},
	year = {2015},
	eissn = {1872-6089},
	pages = {122-145}
}

@article{MTMT:2956896,
	title = {Administrative barriers to trade},
	url = {https://m2.mtmt.hu/api/publication/2956896},
	author = {Hornok, Cecília and Koren, Miklós},
	doi = {10.1016/j.jinteco.2015.01.002},
	journal-iso = {J INT ECON},
	journal = {JOURNAL OF INTERNATIONAL ECONOMICS},
	volume = {96},
	unique-id = {2956896},
	issn = {0022-1996},
	abstract = {We build a model of administrative barriers to trade to understand how they affect trade volumes, shipping decisions and welfare. Because administrative costs are incurred with every shipment, exporters have to decide how to break up total trade into individual shipments. Consumers value frequent shipments, because they enable them to consume close to their preferred dates. Hence per-shipment costs create a welfare loss.We derive a gravity equation in our model and show that administrative costs can be expressed as bilateral ad-valorem trade costs. We estimate the ad-valorem equivalent in Spanish shipment-level export data and find it to be large. A 50% reduction in per-shipment costs is equivalent to a 9 percentage point reduction in tariffs. Our model and estimates help explain why policy makers emphasize trade facilitation and why trade within customs unions is larger than trade within free trade areas. © 2015 The Authors.},
	keywords = {Spain; EQUATION; EXPORT; Cost analysis; numerical model; Policy Making; shipping; welfare economics; trade flow; Trade facilitation; Gravity equation; Customs union; Administrative barriers},
	year = {2015},
	eissn = {1873-0353},
	pages = {110-122},
	orcid-numbers = {Hornok, Cecília/0000-0001-5680-3206}
}

@article{MTMT:2891795,
	title = {Per-shipment costs and the lumpiness of international trade},
	url = {https://m2.mtmt.hu/api/publication/2891795},
	author = {Hornok, Cecília and Koren, Miklós},
	doi = {10.1162/REST_a_00468},
	journal-iso = {REV ECON STAT},
	journal = {REVIEW OF ECONOMICS AND STATISTICS},
	volume = {97},
	unique-id = {2891795},
	issn = {0034-6535},
	abstract = {Using detailed U.S. and Spanish export data, we document that trade costs of a per-shipment nature are associated with less frequent and larger shipments (i.e., more lumpiness) in international trade. This finding is pervasive across broad product categories, but most apparent for industrial supplies, parts and accessories, and food products. © 2015 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology.},
	year = {2015},
	eissn = {1530-9142},
	pages = {525-530},
	orcid-numbers = {Hornok, Cecília/0000-0001-5680-3206}
}

@article{MTMT:24771824,
	title = {Internet Technology and the Extensive Margin of Trade: Evidence from eBay in Emerging Economies},
	url = {https://m2.mtmt.hu/api/publication/24771824},
	author = {Lendle, Andreas and Vezina, Pierre-Louis},
	doi = {10.1111/rode.12148},
	journal-iso = {REV DEV ECON},
	journal = {REVIEW OF DEVELOPMENT ECONOMICS},
	volume = {19},
	unique-id = {24771824},
	issn = {1363-6669},
	year = {2015},
	eissn = {1467-9361},
	pages = {375-386}
}

@article{MTMT:24911356,
	title = {Customs},
	url = {https://m2.mtmt.hu/api/publication/24911356},
	author = {Martincus, CV and Carballo, J and Graziano, A},
	doi = {10.1016/j.jinteco.2015.01.011},
	journal-iso = {J INT ECON},
	journal = {JOURNAL OF INTERNATIONAL ECONOMICS},
	volume = {96},
	unique-id = {24911356},
	issn = {0022-1996},
	year = {2015},
	eissn = {1873-0353},
	pages = {119-137}
}

@article{MTMT:2766875,
	title = {Economies of Scale and the Size of Exporters},
	url = {https://m2.mtmt.hu/api/publication/2766875},
	author = {Roc, Armenter and Koren, Miklós},
	doi = {10.1111/jeea.12108},
	journal-iso = {J EUR ECON ASSOC},
	journal = {JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION},
	volume = {13},
	unique-id = {2766875},
	issn = {1542-4766},
	year = {2015},
	eissn = {1542-4774},
	pages = {482-511}
}

@article{MTMT:25363196,
	title = {Big hits, export concentration and volatility},
	url = {https://m2.mtmt.hu/api/publication/25363196},
	author = {Sufrauj, Shamnaaz B and Schiavo, Stefano and Riccaboni, Massimo},
	doi = {10.1007/s40888-015-0014-y},
	journal-iso = {ECON POLIT-ITALY},
	journal = {ECONOMIA POLITICA},
	volume = {32},
	unique-id = {25363196},
	issn = {1120-2890},
	year = {2015},
	eissn = {1973-820X},
	pages = {135-166}
}

@article{MTMT:24271241,
	title = {The network structure of international trade},
	url = {https://m2.mtmt.hu/api/publication/24271241},
	author = {Chaney, T},
	doi = {10.1257/aer.104.11.3600},
	journal-iso = {AM ECON REV},
	journal = {AMERICAN ECONOMIC REVIEW},
	volume = {104},
	unique-id = {24271241},
	issn = {0002-8282},
	year = {2014},
	eissn = {1944-7981},
	pages = {3600-3634}
}

@article{MTMT:24261654,
	title = {Preferential attachment in multiple trade networks},
	url = {https://m2.mtmt.hu/api/publication/24261654},
	author = {Foschi, R and Riccaboni, M and Schiavo, S},
	doi = {10.1103/PhysRevE.90.022817},
	journal-iso = {PHYS REV E STAT NONLIN},
	journal = {PHYSICAL REVIEW E - STATISTICAL, NONLINEAR AND SOFT MATTER PHYSICS (2001-2015)},
	volume = {90},
	unique-id = {24261654},
	issn = {1539-3755},
	year = {2014},
	eissn = {1550-2376}
}

@article{MTMT:25201104,
	title = {Reconstructing the world trade multiplex: The role of intensive and extensive biases},
	url = {https://m2.mtmt.hu/api/publication/25201104},
	author = {Mastrandrea, Rossana and Squartini, Tiziano and Fagiolo, Giorgio and Garlaschelli, Diego},
	doi = {10.1103/PhysRevE.90.062804},
	journal-iso = {PHYS REV E STAT NONLIN},
	journal = {PHYSICAL REVIEW E - STATISTICAL, NONLINEAR AND SOFT MATTER PHYSICS (2001-2015)},
	volume = {90},
	unique-id = {25201104},
	issn = {1539-3755},
	year = {2014},
	eissn = {1550-2376}
}